Replying to Real estate

is buying a place a good idea right now? I can find arguments supporting both sides.
Rates are low and inflation is picking up for the near future. On the flip side, the market can be considered overvalued in many areas.

I know a big part of this is location. California looks a lot different than Illinois, for example.

What do you think?

Buy a place and build equity, or rent and invest that downpayment in stocks, cryptos, other liquid assets etc